06/11/2022
Argaam Exclusive











Maharah Human Resources Co. posted a net profit after Zakat and tax of SAR 113.9 million for the nine-month period ended Sept. 30, 2022, a rise of 8% from SAR 105.7 million in the year-earlier period. 




The profit growth was driven by a 25% revenue rise. In addition, the 9M 2022 financials contained an equity stake from the newly acquired companies during Q3 2022, namely Care shield Holding and Saudi Medical Systems Co. as income from investment in associates amounting to SAR 35 million.




The firm also cited a rise in income from investment in financial instruments through profit or loss by SAR 2.5 million compared to the previous quarter.








In Q3 2022, net profit after Zakat and tax leapt 74% to SAR 61.9 million from SAR 35.63 million a year earlier, mainly due to higher revenues.




On a sequential basis, Q3 2022 net profit more than doubled from SAR 27.19 million.







Current Quarter Comparison (M)
























Item Q3 2021 Q3 2022 Change‬
Revenues

324.83


419.47
29.1 %
Gross Income

54.29


58.37
7.5 %
Operating Income

36.31


30.02
(17.3 %)
Net Income

35.63


61.93
73.8 %
Average Shares

37.50


37.50
EPS (Riyals)

0.95


1.65
73.8 %




Shareholders’ equity, after minority interest, amounted to SAR 561.24 million at the end of the nine-month period, from SAR 530.98 million a year earlier. 











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Share Price














Maharah Human Resources Company (Maharah)




































Current
Market Cap (M Riyal) 2,156.25
Enterprise Value (EV) (M) 2,029.99
Book Value (BV) ( Riyal) 14.97
Adjusted P/E (Last12) 15.13
P/E (TTM) 14.07
Price/book 3.84
Return on Average Assets (%) (TTM) 15.1
Return on Average Equity (%) (TTM) 28.1


















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